According to the PHD Chamber of Commerce and Industry,India’s imports from China stood at USD 46 billion during the April-January period of 2018-19 from USD 53 billion in the same period a year ago.
The chamber has said that India has seen an increase in its exports to China during the last few months whereas imports of Chinese products in India are decelerating.
Meanwhile,India has also identified and shared with China a list of 380 products which includes horticulture,textiles,pharmaceuticals and chemicals as their shipments hold huge export potential in the neighbouring country.
Increasing exports of these products would help India narrow the widening trade deficit with China which stood at $50.12 billion during April-February 2018-19.
The PHD Chamber of Commerce and Industry (PHDCCI) is a trade and industry body.It is a non-government,not-for-profit industry-led and industry-managed organization,which claims to play a role in industrial development processes.It is headquartered in Rajasthan.
PHDCCI has a membership of over 120 industries and entrepreneurs from the private and public sectors.It is authorized by the Government of India to issue Certificates of Origin for the products of exports and to issue recommendations for visas.